2020-06-08T07:02:50-07:00 2019-12-31 390803883 Gordon J Maier & Company LLP 845 Wisconsin Avenue Racine WI 53403 990 2019-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987412 2320 RENAISSANCE BLVD STURTEVANT WI 53177 GREGORY BARRON President 2020-06-08 true JULIE CRAIG CPA P01335456 2626347108 2019 2021-01-29 14:40:06Z 2320 RENAISSANCE BLVD STURTEVANT WI 53177 1765171 false X WWW.RACINECOUNTYEDC.ORG X 1983 WI To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. 29 29 18 0 916951 864117 864989 778193 4715 9624 132242 113237 1918897 1765171 0 0 1036034 954071 0 13223 728921 1238579 1764955 2192650 153942 -427479 16401815 16629514 3249785 3904963 13152030 12724551 To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. false false 1341840 BUSINESS FINANCE PROGRAM - Manages a number of government and quasi-govenrment business financing programs that provide low-interest loans to Racine County businesses. RCEDC is also a Small Business Administration(SBA)Certified Development Company, and as a result, provides SBA 504 fixed asset loans throughout the State of Wisconsin. Also, utilizes their resources to manage certain community-based revolving loan funds in Southeast Wisconsin. 512525 Business Development- Conducts various business development programs as part of its Business Development Plan Division. These programs include business retention and expansion to identify and implement strategies to address the needs of existing businesses throughout Racine County. It also conducts business recruitment for companies that are seeking a location for business in Racine County. 172816 Workforce Development- Provides employer and job seeker services at the Workforce Development Center. Also working in developing policies and programs to assist in the positive development of the Racine County workforce that may be implemented by a variety of partner agencies in Racine County. 2027181 true false false false false false false false false false true false false false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 57 0 true 18 true false false false false false false false 0 false false false false false false false X 29 29 false false false false false false false true true false false true true true true true true true true false WI X JENNY TRICK 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 JENNY L TRICK Executive Dir. 40.00 0.00 X 122935 0 0 TOM MAHONEY 1st Vice Pres 1.00 0.00 X X 0 0 0 DAVID GRIFFITH 3rd Vice Pres 1.00 0.00 X X 0 0 0 JOHN CRIMMINGS Treasurer 1.00 0.00 X X 0 0 0 JULIE ANDERSON Director 1.00 0.00 X 0 0 0 LISA JUST Secretary 1.00 0.00 X X 0 0 0 GREGORY BARRON President 1.00 0.00 X X 0 0 0 CORY MASON Director 1.00 0.00 X 0 0 0 JONATHAN DELAGRAVE Director 1.00 0.00 X 0 0 0 JIM MCPHAUL Chairman 1.00 0.00 X X 0 0 0 JEFF MOLINSKI 2nd Vice Pres 1.00 0.00 X X 0 0 0 122935 1 false false false 0 150114 714003 864117 INTERESTREVOLVING LOAN FD 561000 95521 95521 REVOLVING LOAN FUND ADMIN 561000 77093 77093 REVOLVING LOAN PREP FEES 561000 54749 54749 SBA 504 SERVICES FEES 561000 285168 285168 WORKFORCE DEVELOPMENT 561000 126257 126257 139405 139405 778193 9624 9624 0 0 0 0 0 0 0 FORGIVENESS OF LOAN 525990 110429 110429 MISCELLANEOUS INCOME 525990 2808 2808 113237 1765171 891430 9624 0 0 0 0 122935 105724 15981 1230 0 720481 666929 49121 4431 44905 41284 3331 290 0 65750 59924 5360 466 0 784 784 0 0 0 0 100521 77553 21143 1825 0 0 0 0 41870 30272 10670 928 0 0 0 274 195 73 6 0 3836 2725 1022 89 110015 96269 12646 1100 FORGIVABLE LOAN EXPENSE 697500 697500 MATCHING GRANT EXPENSE- 87978 87978 MARKETING CONSULTANT 47067 33433 12543 1091 TRAVEL & ENTERTAINMENT 34973 32610 2174 189 113761 94001 18182 1578 2192650 2027181 152246 13223 0 4724016 5966302 0 271558 268297 0 0 10873938 9861068 0 13431 29015 77194 62890 5416 14304 0 0 0 217551 217551 295905 272977 16401815 16629514 187688 206558 317680 290960 2744417 3407445 3249785 3904963 X 12645850 12226349 506180 498202 13152030 12724551 16401815 16629514 -427479 X false true X true true true X 1780957 1503602 5478615 742376 871808 10377358 0 0 1780957 1503602 5478615 742376 871808 10377358 0 10377358 982 1085 1320 4715 9624 17726 0 1003717 1088112 904170 999550 888622 4884171 15279255 42949 0.67920 0.69800 X 77194 62890 14304 14304 FUNDS HELD IN TRUST 3297019 NOTES PAYABLE 110426 3407445 1772862 7691 7691 1765171 1765171 2200341 7691 7691 2192650 2192650 Client Note 1 Client Note 1 - Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 is reviewed by the internal financial staff, Executive Director, and the Board of Directors which is the governing body of RCEDC. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts All officers, directors, and key employees are required to report conflict of interest as they arise. Additionally,they must annually complete a conflict of interest form. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Executive Director's salary is reviewed annually by the Board of Directors and comparable wage figures are analyzed. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees There is one RCEDC non-voting officer who is also a key employee who receives compensation and RCEDC has not identified any other key employees. However, the RCEDC Board of Directors reviews the annual budget which includes the wages benefits, and related staff expenses. Upon approval of the budget, a written directive on changes in salary is signed by the executive director and provided to the RCDEC controller who implements the salary changes. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The RCEDC provides copies of its Form 990 to the full board and the Form 990 and other documents are available at the RCEDC offices for inspection upon request.